CA Sansaar
New ITR Form to Be Notified Before FY 2027-28
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“The new Income Tax Return (ITR) form, aligned with the provisions of the Income Tax Act, 2025, will be notified before the commencement of the 2027–28 financial year,” Minister of State for Finance Pankaj Chaudhary stated on Monday (December 8, 2025).
He informed the Lok Sabha, in a written reply, that the CBDT committee on the simplification of ITR forms is undertaking extensive consultations with tax experts, professional institutions, and field formations of the Income Tax Department.
The Income Tax Act, 2025—enacted on August 21—will come into force from the next financial year beginning April 1, 2026. The new Act will replace the existing Income Tax Act, 1961, with the objective of simplifying tax laws, reducing legislative complexity, and ensuring greater clarity and ease of understanding.
In this context, all forms governed under the Income Tax Act, including the quarterly Tax Deducted at Source (TDS) return forms and ITR forms, are being redesigned. The Directorate of Systems is working closely with the Tax Policy Division to ensure that the revised formats are more streamlined and taxpayer-friendly.
He informed the Lok Sabha, in a written reply, that the CBDT committee on the simplification of ITR forms is undertaking extensive consultations with tax experts, professional institutions, and field formations of the Income Tax Department.
The Income Tax Act, 2025—enacted on August 21—will come into force from the next financial year beginning April 1, 2026. The new Act will replace the existing Income Tax Act, 1961, with the objective of simplifying tax laws, reducing legislative complexity, and ensuring greater clarity and ease of understanding.
In this context, all forms governed under the Income Tax Act, including the quarterly Tax Deducted at Source (TDS) return forms and ITR forms, are being redesigned. The Directorate of Systems is working closely with the Tax Policy Division to ensure that the revised formats are more streamlined and taxpayer-friendly.
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